ACTIVE

Bwarm

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Financial year 2025 · closed on 31/12/2025
Net result
351,1 k €
+16.1% YoY
Gross margin
693,3 k €
+21.4% YoY
Equity
746,8 k €
+32.0% YoY
Workforce
4,7 ETP
+42.4% YoY

What does Bwarm do?

Bwarm is a Private limited company incorporated in 2018. Its main activity is: Forging, pressing, stamping and roll-forming of metal; powder metallurgy. Its registered office is in Etterbeek. It employs on average 4,7 ETP workers (FTE).

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0698.863.521
Incorporation
27/06/2018
Legal form
Private limited company
Registered office
Rue du Reigersvliet 12
1040 Etterbeek · BruxellesSee on map
Contributed capital
12 400,00 €
Latest accounts
31/12/2025
Average workforce
4,7 ETP
Activities (NACE)
25530Forging, pressing, stamping and roll-forming of metal; powder metallurgy· main25620Machining43222Plumbing, heat and air-conditioning installation43222Plumbing, heat and air-conditioning installation33110Repair of fabricated metal products33110Repair of fabricated metal products+8
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts
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Health score
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✦ Verdict · Analyst summary
Financials

Trend over 7 financial years

2025202420232022202120202019
Income statement
Gross margin693,3 k €571,2 k €235,9 k €225,2 k €93,6 k €5,3 k €9,4 k €
EBITDA531 k €469,5 k €147,7 k €185,7 k €93,1 k €5,3 k €8,2 k €
Operating result508,7 k €446,2 k €128,3 k €173,3 k €82,9 k €-1,3 k €-1,4 k €
Net result351,1 k €302,4 k €92,9 k €120,3 k €61,5 k €-1,9 k €-2,3 k €
Balance sheet
Equity746,8 k €565,7 k €263,3 k €188,4 k €68,9 k €8,2 k €10,1 k €
Total assets1,3 M €885,6 k €404,1 k €355,9 k €171,5 k €19,6 k €45,1 k €
Cash294,5 k €131,8 k €154,2 k €174 k €103,8 k €209,9 €4,1 k €
Debts511,6 k €315,4 k €139,9 k €167,5 k €100,4 k €11,3 k €35 k €
Other
Workforce4,7 ETP3,3 ETP2,4 ETP––––
Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€
See the valuation
Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 2 ended

Active mandates

BENOIT NOVAK

Director · since 14 janvier 2021

Active

Ended mandates

BENOIT NOVAK

Managing director · since 06 janvier 2021

Ended
KENNY COPS

Director

Ended
Annual accounts

Full financial information

202520242023202220212020
Type of accountAbridged modelAbridged modelAbridged modelAbridged modelMicro modelMicro model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date19/06/202625/07/202522/08/202422/08/202318/08/202227/08/2021
General meeting15/05/202616/05/202517/05/202419/05/202320/05/202221/05/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

7 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Abridged model31/12/202515/05/202619/06/2026FrenchPDF
Abridged model31/12/202416/05/202525/07/2025FrenchPDF
Abridged model31/12/202317/05/202422/08/2024FrenchPDF
Abridged model31/12/202219/05/202322/08/2023FrenchPDF
Micro model31/12/202120/05/202218/08/2022FrenchPDF
Micro model31/12/202021/05/202127/08/2021FrenchPDF
Micro model31/12/201915/05/202025/08/2020DutchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan
Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 2 ended

Active mandates

BENOIT NOVAK

Director · since 14 janvier 2021

Active

Ended mandates

BENOIT NOVAK

Managing director · since 06 janvier 2021

Ended
KENNY COPS

Director

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Registered office03/09/2026
    SIEGE
    PDF
  • Other19/02/2021
    STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …)
    PDF
  • Registered office19/02/2021
    BENAMING - MAATSCHAPPELIJKE ZETEL - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, …)
    PDF
  • Mandates20/01/2021
    ONTSLAGEN - BENOEMINGEN - WIJZIGING RECHTSVORM
    PDF
  • Registered office24/01/2019
    MAATSCHAPPELIJKE ZETEL
    PDF
  • Other29/06/2018
    RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
    PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

  1. 2025
    Annual accounts 2025351,1 k €↑
  2. 2024
    Annual accounts 2024302,4 k €↑
  3. 2023
    Annual accounts 202392,9 k €↓
  4. 2022
    Annual accounts 2022120,3 k €↑
  5. 2021
    Annual accounts 202161,5 k €↑
  6. 2020
    Annual accounts 2020-1,9 k €↑
  7. 2019
    Annual accounts 2019-2,3 k €
  8. 27/06/2018
    IncorporationPrivate limited company